Treasury bill · Matured

912797VB0

Original term
17-Week
Maturity
Sep 8, 2026
Coupon
–
Pays
None
Dated
–
First coupon
–
Priced through
Sep 4, 2026
Analyzed through
Sep 3, 2026

Statement of August 31, 2026

Amount outstanding
$285.62bn
Held stripped
not strippable
Share stripped
–

This security cannot be stripped, so no stripped figure exists for it rather than one that is zero. Stripping separates a coupon security into its individual interest and principal payments, which needs more than one cashflow to separate. Market statistics.

Amount outstanding as reported by Treasury, in its Monthly Statement of the Public Debt. The Safe Rate indices weight on a different figure, float-adjusted original par, and the two are not comparable security by security. The index figures are published per holding.

Still priced, no longer analyzed. Risk numbers below are as of Sep 3, 2026, analytics stop about three months before maturity, because a security with one cashflow left does not have a meaningful yield curve exposure.

Risk, September 3, 2026

Yield to maturity
3.621%
Modified duration
0.011 yr
DV01
0.0001
Convexity
0.000
Dirty price
99.960

Where its rate sensitivity sits

All of it in one place. A bill pays a single cashflow at maturity, so its key rate profile is its modified duration of 0.011 years, sitting in the nearest bucket and nothing anywhere else. That is also why its duration equals its remaining term rather than being shorter: there are no coupons to pull the average payment date forward. A twelve-bucket chart of that would be eleven empty bars.

Against the money market curve

Priced 0.04 cents per 100 of face rich to the curve on that day.

Shown as a price rather than a yield. This bill is 5 days from redemption, and inside a month the difference between its price and the curve annualizes into a number that looks like an enormous mispricing rather than the fraction of a cent it is: worst case across eighteen years, 1,435 basis points on a residual of four cents. Its yield above is unaffected and stands: a bill quotes on an investment-rate basis, which is the market's own convention rather than an annualized stub.

Yield to maturity, 80 observations

3.60%3.65%3.70%3.75%3.80%May 12, 2026Sep 3, 2026May 12, 2026Yield to maturity3.714%May 14, 2026Yield to maturity3.703%May 18, 2026Yield to maturity3.691%May 20, 2026Yield to maturity3.680%May 22, 2026Yield to maturity3.699%May 27, 2026Yield to maturity3.698%May 29, 2026Yield to maturity3.697%Jun 2, 2026Yield to maturity3.706%Jun 4, 2026Yield to maturity3.706%Jun 8, 2026Yield to maturity3.725%Jun 10, 2026Yield to maturity3.714%Jun 12, 2026Yield to maturity3.723%Jun 16, 2026Yield to maturity3.711%Jun 18, 2026Yield to maturity3.730%Jun 23, 2026Yield to maturity3.740%Jun 25, 2026Yield to maturity3.749%Jun 29, 2026Yield to maturity3.758%Jul 1, 2026Yield to maturity3.726%Jul 6, 2026Yield to maturity3.704%Jul 8, 2026Yield to maturity3.703%Jul 10, 2026Yield to maturity3.712%Jul 14, 2026Yield to maturity3.721%Jul 16, 2026Yield to maturity3.721%Jul 20, 2026Yield to maturity3.719%Jul 22, 2026Yield to maturity3.729%Jul 24, 2026Yield to maturity3.788%Jul 28, 2026Yield to maturity3.747%Jul 30, 2026Yield to maturity3.685%Aug 3, 2026Yield to maturity3.683%Aug 5, 2026Yield to maturity3.672%Aug 7, 2026Yield to maturity3.691%Aug 11, 2026Yield to maturity3.701%Aug 13, 2026Yield to maturity3.680%Aug 17, 2026Yield to maturity3.698%Aug 19, 2026Yield to maturity3.687%Aug 21, 2026Yield to maturity3.686%Aug 25, 2026Yield to maturity3.695%Aug 27, 2026Yield to maturity3.705%Aug 31, 2026Yield to maturity3.673%Sep 2, 2026Yield to maturity3.672%Sep 3, 2026Yield to maturity3.621%

Price history

81 trading days to Sep 4, 2026

98.7599.0099.2599.5099.75100.00May 12, 2026Sep 4, 2026May 12, 2026Close98.813May 14, 2026Close98.837May 18, 2026Close98.880May 20, 2026Close98.903May 22, 2026Close98.947May 27, 2026Close98.967May 29, 2026Close99.007Jun 2, 2026Close99.025Jun 4, 2026Close99.045Jun 8, 2026Close99.080Jun 10, 2026Close99.103Jun 12, 2026Close99.141Jun 16, 2026Close99.163Jun 18, 2026Close99.209Jun 23, 2026Close99.227Jun 25, 2026Close99.246Jun 29, 2026Close99.284Jul 1, 2026Close99.311Jul 6, 2026Close99.365Jul 8, 2026Close99.385Jul 10, 2026Close99.424Jul 14, 2026Close99.442Jul 16, 2026Close99.463Jul 20, 2026Close99.503Jul 22, 2026Close99.522Jul 24, 2026Close99.556Jul 28, 2026Close99.581Jul 30, 2026Close99.608Aug 3, 2026Close99.648Aug 5, 2026Close99.669Aug 7, 2026Close99.708Aug 11, 2026Close99.727Aug 13, 2026Close99.749Aug 17, 2026Close99.788Aug 19, 2026Close99.808Aug 21, 2026Close99.849Aug 25, 2026Close99.869Aug 27, 2026Close99.888Aug 31, 2026Close99.930Sep 2, 2026Close99.950Sep 4, 2026Close100.000
The most recent 20 trading days of prices for 912797VB0.
DateBidOfferClose
Sep 4, 2026–99.960100.000
Sep 3, 2026–99.95099.960
Sep 2, 2026–99.93999.950
Sep 1, 202699.93099.93099.939
Aug 31, 202699.92099.91999.930
Aug 28, 202699.88999.88899.919
Aug 27, 202699.87999.87899.888
Aug 26, 202699.86999.86999.878
Aug 25, 202699.85999.85999.869
Aug 24, 202699.84999.84999.859
Aug 21, 202699.81999.81999.849
Aug 20, 202699.80999.80899.819
Aug 19, 202699.79999.79899.808
Aug 18, 202699.78999.78899.799
Aug 17, 202699.77899.77899.788
Aug 14, 202699.74999.74899.778
Aug 13, 202699.74099.73999.749
Aug 12, 202699.72899.72899.739
Aug 11, 202699.71799.71799.727
Aug 10, 202699.70799.70799.717

Prices are per 100 of face, from Treasury's own end-of-day file. A dash in the bid or offer column means none was posted that day.

3 auctions

A CUSIP can be auctioned more than once: Treasury reopens an existing security rather than issuing a new one, so the same bond is sold again at whatever yield the market then wants.

Auction history for 912797VB0.
Auction dateIssuedTypeOfferedAcceptedBid to coverHigh yield
May 6, 2026May 12, 2026New issue$69.0bn$69.6bn3.13x–
Jul 9, 2026Jul 14, 2026Reopening$95.0bn$100.9bn2.95x–
Aug 6, 2026Aug 11, 2026Reopening$110.0bn$115.1bn2.68x–

The curve this was priced against →

Index levels before September 30, 2026 are back-tested. They were computed after the fact by applying the rules to historical data, which benefits from hindsight in the choice of rules, and an index cannot be invested in directly. Methodology v1.0 takes effect at that rebalance, when levels begin to be struck on the day; the rulebook is identical either way, and the version is published on every row.

A fitted curve is a fit, not a quote. Daily error averages 3.8 basis points across the history and reaches about 20 on the worst days, in December 2008, when the market was genuinely hard to fit one smooth curve to. Every curve page publishes its own fit error rather than burying it.

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Safe Rate™, Safe Rate Indices™ and the Safe Rate US Treasury Index™ are trademarks of Safe Rate, claimed through use in commerce and not registered. Third-party marks are the property of their owners, which are not affiliated with and do not endorse this data.

Curves are fitted from public Treasury data and carry fit error; figures are not a record of trading, and an index cannot be invested in directly. No claim of compliance with the IOSCO Principles for Financial Benchmarks is made or implied. Not investment advice, not an offer, and not a recommendation to buy or sell any security.